Flat
DRAFT DETAILS. Awaiting vendor approval.
A one bedroom ground floor apartment which is rented out on new 1 year AST to a long standing tenant at £575 per calendar month/£6,900 per annum. With a rent review once the tenancy agreement has expired a rental income of £650 per calendar month/£7,800 per annum could be achieved.
Located within close proximity of Sutton Coldfield Park, Wyndley Leisure Centre and Sutton Coldfield Gracechurch Shopping Centre, several bars and restaurants along with an excellent public transport network to Lichfield or Birmingham City Centre.
Length of lease: 25th March 1963 for 99 years Current ground rent: £30 per annum
Ground rent review period: TBC Current service charge: TBC Service charge review period: TBC This information should be clarified in the legal pack and we’ll update the information above when we receive it.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Leasehold. Subject to tenancy.
£30
40
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms.
Auction Deposit and Fees
The following deposits and non- refundable auctioneer’s fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
